Common use of GMDB and EPB Clause in Contracts

GMDB and EPB. Within thirty (30) days after the end of each calendar month, the Retrocedent shall notify the Retrocessionaire of the retroceded contractual death benefit claims paid in respect of Reinsured Contracts in that month, based on the net amount at risk definition, set forth in Article IV, and the Retrocessionaire shall indemnify the Retrocedent as provided in Article VI for the retroceded benefit claim liabilities. GMIB: Within thirty (30) days of the end of each calendar month, the Retrocedent shall notify the Retrocessionaire of the retroceded contractual Income Program benefits paid in respect of Reinsured Contracts in that month, based on the IBNAR definition set forth in Article IV, and the Retrocessionaire shall indemnify the Retrocedent as provided in Article VI for the retroceded benefits.

GMDB and EPB. Within thirty (30) days after the end of each calendar month, the Retrocedent shall notify the Retrocessionaire of the retroceded contractual death benefit claims paid in respect of Reinsured Contracts in that month, based on the net amount at risk definition, set forth in Article IV, and the Retrocessionaire shall indemnify the Retrocedent as provided in Article VI for the retroceded benefit claim liabilities. GMIB: Within thirty (30) days of the end of each calendar month, the Retrocedent shall notify the Retrocessionaire of the retroceded contractual Income Program benefits to be paid by the Retrocessionarie in respect of Reinsured Contracts in that month, based on the IBNAR definition set forth in Article IV, and the Retrocessionaire shall indemnify the Retrocedent as provided in Article VI for the retroceded benefits.